This Month
Sam Arnaout’s Midas touch turns suburban pubs into pokie gold mines
Iris Capital has a remarkable knack of attracting high-rolling gamblers to its NSW hotels, increasing gambling profits and supercharging the value of the pubs.
Star Entertainment woos potential new lender with casino tour
WhiteHawk Capital, an American private credit firm, will tour Star’s three precincts ahead of a decision on a possible loan to the troubled casino group.
Ainsworth heir takes his family’s former pokies giant to court
A long battle between Ainsworth Game Technology and Kjerulf Ainsworth, the son of its founder, over a takeover from Novomatic has landed in Federal Court.
Star casino judgment left directors off the legal hook
How will ASIC v Bekier be understood? Will it be seen as a unique set of facts and resulting outcome, or as a legal outcome that legitimates mediocre standards of governance?
James Packer’s Consolidated Press sued by former top lawyer
The long-running vehicle invests much of the billionaire businessman’s fortune, and is run by a family lieutenant Lawrence Myers, who is also being sued.
This elusive Aussie built a multimillion-dollar global gambling empire
Bernard Marantelli has for the past few decades outsmarted many in the wagering industry, including US authorities after he won a $95 million lottery jackpot.
The Star case is a warning for boards and a setback for the regulator
Justice Michael Lee in his judgment said it was still difficult to look at what happened at Star “without a sense of disquiet”.
Michael Lee’s judgment leaves legacy for Sally Pitkin and friends
The market and shareholders may expect higher standards of boards these days, but that doesn’t mean ASIC can enforce them (in this case, at least).
Three lessons stick out from Lee’s Star judgment
Modern law expects significantly more from boardrooms than the “languid, listless indifference of gentleman directors” tolerated in earlier eras.
Former Star chief executive Bekier broke the law, but board didn’t
The Federal Court says the casino’s chief executive failed to manage the risk that junket operators were laundering money, but threw out ASIC’s other claims.
No winners in court’s evisceration of Star’s crooked culture
The casino company’s former non-executive directors may have scored a legal victory, but it will be tempered by judge Michael Lee’s brutal judgment.
Ainsworth’s former chief executive faces Austrian bribery charges
Prosecutors say Harald Neumann provided benefits to the country’s former vice chancellor Heinz-Christian Strache that influenced his public decision-making.
Star Entertainment to cut costs after $110m first-half loss
The results are the first for the embattled casino operator since Bally’s and the Mathieson family took over as majority owners.
February
Billionaire Laurence Escalante hit with fresh drug charges
The 44-year-old founder of Virtual Gaming Worlds fronted Perth Magistrates Court on Thursday on nine new charges.
Tabcorp’s live betting puck to enter NSW pub scene
Gillon McLachlan’s new live betting product, tap in play, is expected to be rolled out this year.
Pub matriarch claims children never paid for Gold Coast apartment
The heirs to the De Angelis pub empire have been fighting over a multimillion-dollar Main Beach unit. But their mother is now staking her claim.
Local jobs to go as Blackstone’s Crown takes IT, finance offshore
Crown says the latest reduction in jobs is designed to set the business up for the future and comes as the group faces industrial action in Victoria.
This 29-year-old is worth $15b and wants you to bet on everything
The co-founder of America’s biggest predictions market built a platform that lets people bet on anything. He says it’s not gambling.
‘I’m coming now’: Alleged assault could cost Escalante his empire
Court documents reveal details of the allegations against Perth gaming billionaire Laurence Escalante, who’s facing several assault and drug charges
Ladbrokes owner dampens takeover talks, eyes online casino expansion
New chief executive Andrew Vouris said an attempt to compete against Tabcorp inside pubs and clubs had distracted the bookmaker from what it does best.
Former Ainsworth CEO, CFO paid secret bonuses for Novomatic deal
Documents show executives at the gaming machines giant were paid $15 million by its billionaire founder shortly after he offloaded his 53 per cent stake.
January
Gambling billionaire steps down after being arrested on family violence, drug offences
Laurence Escalante is accused of assaulting a woman, stealing several items and causing damage to a property.
Victor Churchill to open new restaurant inside Crown
Set to open in mid-2027, the restaurant will be the third to launch inside Crown Melbourne since 2024.
Sam Arnaout fights off legal bid to limit Alice Springs poker machines
The Sydney pokies and pub billionaire has fought off a legal challenge that tried to reduce the number of gaming machines in two of his Alice Springs hotels.
Loophole allows illegal gambling sites to promote AO bets
The platforms, which are illegal to users in Australia, are leveraging the Australian Open for new punters.
